Markets
The crypto market drops marginally even as trading volume decreases; Bitcoin, Ethereum down
Crypto Market Drops Marginally
The global crypto market fell marginally on Friday. Total market capitalization fell 1.24% to $2.43 trillion, even as total trading volume fell 24.80% to $69.08 billion. Ethena ENA was the most popular cryptocurrency. It rose 0.16 percent to $0.7105. Its 24-hour trading volume was $91.55 million. Uniswap UNI was the biggest gainer. It increased by 7.20 percent. Its 24-hour trading volume was 246.73 million. Stacks STX was the biggest loser. The drop was 9.95%. Its 24-hour trading volume was $214.19 million.
DeFi fell 1.83% to $5.12 billion, Coinmarketcap.com reported.
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Sathvik Vishwanath, co-founder and CEO of Unocoin, said: “Bitcoin was bearish, falling from $69,977 to $67,039, now trading at $67,600.32. The unexpected aggressive stance of the Federal Reserve, which foresees only a rate cut in 2024 has put bitcoin under pressure despite weaker inflation data, rising US Treasury yields and a stronger dollar have weighed on BTC further. However, significant accumulation by Bitcoin whales. and renewed interest in US Bitcoin ETFs indicate that investor confidence and potential price stability are at $70,000 and support at $66,000. Current price below the 50-day EMA of $68,800 and the $68,800 EMA. RSI of 44 indicates a continued downtrend unless the $68,500 pivot point is broken.”
Cryptocurrency prices
Bitcoin: Bitcoin BTC fell 1.10% to $67,096.36. Its 24-hour trading volume was $26.43 billion. It is currently ranked #1 on Coinmarketcap based on market cap. Bitcoin’s market dominance was 49.06%.
Ethereum: Ethereum ETH fell 0.05 percent to $3,506.99 from the previous day. Its 24-hour trading volume was $13.80 billion. Ethereum’s market dominance was 17.4%.
Lashing: Tie USDT it was trading at $0.9994. The drop was 0.03%. Its 24-hour trading volume was $52.62 billion. It is ranked third on Coinmarketcap.
Other Altcoins
Solana SOL fell 3.52 percent to $146.84. Its 24-hour trading volume was $1.99 billion.
Avalanche AVAX was trading at $31.41, down 4.28%. Its 24-hour trading volume was $273.82 million.
Cardano ADA fell 2.36% to $0.4224 from the previous day. Its 24-hour trading volume was $335.03 million.
Meme Coins
Dogecoin DOGE is up 1.46 percent with a 24-hour price of $0.1417.
Shiba Inu SHIB fell 1.81 percent to $0.00002134.
Decentralized Finance
The DeFi coin was trading at $0.0528, down 11.18%.
Yearn.Finance YFI fell 1.75 percent to $6,196.02 in the last 24 hours. Its 24-hour trading volume was $16.09 million.